• Most Popular
  • Most Shared

UPDATE 2-IHS Q2 earnings beat Wall Street view

Wed Jun 17, 2009 6:19pm EDT

Stocks

   

* Q2 adj EPS $0.64 beats estimates by $0.9/shr

Stocks

* Q2 revenue up 14 pct

* Reaffirms '09 rev growth of 12-16 pct

* Shares rise in after-market trade (Adds CEO comments, conference call details)

By Shrutika Verma

BANGALORE, June 17 (Reuters) - IHS Inc (IHS.N), a provider of business information and analysis, reported a higher quarterly profit that beat analysts' estimates, helped mainly by an 18 percent revenue growth in the Americas region, and maintained its revenue outlook for 2009.

Profitability in the Americas was driven mainly by continued growth in the energy segment as well as acquisitions to some extent, a top executive said on a conference call with analysts.

IHS, which has made over 20 acquisitions in the last three years, also closed its acquisition of the remaining 49.9 percent of Lloyd's Register-Fairplay, a shipping information provider.

"The two critical acquisitions we made in the last year continue to do really well," Chief Executive Jerre Stead told Reuters.

IHS Environment solutions, which grew 26 percent in the latest second quarter, helps manage Environmental, Health and Safety (EHS) and sustainability programs -- from the corporate level down to individual facilities.

Stead said IHS is the only company that offers a complete package in environmental management information systems to customers around the world.

"Environment domain is the single most exciting growth domain as a potential size of our company I've ever seen," the chief executive said.

Second-quarter net income increased to $32.0 million, or 50 cents per share, from $23.3 million, or 37 cents per share, a year earlier.

Total revenue rose 14 percent to $235.3 million. The Americas (North and South America) segment increased its revenue by 18 percent, to $149 million.

Adjusted earnings rose 39 percent to 64 cents per share.

Analysts on average had expected second-quarter earnings of 55 cents a share, excluding exceptional items, on revenue of $237.6 million, according to Reuters Estimates.

For 2009, the company continues to expect a revenue growth of 12 percent to 16 percent. Analysts were expecting revenue of $963.2 million.

Shares of the company rose about 2 percent to $50.25 in trading after the bell. They closed at $49.47 Wednesday on the New York Stock Exchange. (Additional reporting by Bijoy Koyitty; Editing by Gopakumar Warrier)



More from Reuters

Photo

Senate on track to pass healthcare bill

WASHINGTON (Reuters) - Senate Democrats moved closer on Monday to passing landmark healthcare legislation by Christmas after scoring a win in the first big test vote and gaining the support of a powerful lobbying group for doctors. | Video

Photo

Political risk clouds Asia

The economic outlook is strong, but the danger of a sudden correction hangs over Asian markets - as political risks could turn sunshine to storm clouds in the blink of an eye.  Full Article 

Two men shake hands in a file photo.    REUTERS/File

Let's make a deal

The battered M&A sector will make a tepid recovery in the coming year and three hot sectors will lead the way, according to a Thomson Reuters analysis.  Full Article